What legal actions can the bank take if the customer defaults on a loan in the UAE?
By EsqSocial Corporation 10/04/25
Defaulting on a bank loan in the UAE is regulated by the Commercial Code (federal decree-law No. (50) of 2022) and the Civil Procedure Law (federal decree-law No. (42) of 2022). Further, the Central Bank of UAE issued Loan Agreement Notice No. 3692/2012 of the personal loan agreement. This notice stipulates the terms and conditions for loan agreements for both lenders and borrowers....
By: Awatif Mohammad Shoqi Advocates & Legal